Dycom Industries Target of Unusually High Options Trading (DY)

Dycom Industries, Inc. (NYSE:DY) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 5,561 call options on the company. This is an increase of approximately 2,276% compared to the typical daily volume of 234 call options.

Several institutional investors have recently made changes to their positions in DY. Legal & General Group Plc lifted its holdings in shares of Dycom Industries by 19.9% during the 2nd quarter. Legal & General Group Plc now owns 23,861 shares of the construction company’s stock valued at $2,136,000 after buying an additional 3,955 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Dycom Industries by 12.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,354 shares of the construction company’s stock valued at $927,000 after buying an additional 1,112 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Dycom Industries by 6.0% during the 2nd quarter. Principal Financial Group Inc. now owns 136,981 shares of the construction company’s stock valued at $12,263,000 after buying an additional 7,701 shares during the last quarter. Pacad Investment Ltd. lifted its holdings in shares of Dycom Industries by 71.4% during the 2nd quarter. Pacad Investment Ltd. now owns 1,200 shares of the construction company’s stock valued at $107,000 after buying an additional 500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Dycom Industries by 63.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,623 shares of the construction company’s stock valued at $1,220,000 after buying an additional 5,300 shares during the last quarter.

Dycom Industries (NYSE:DY) opened at $112.93 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.86 and a current ratio of 3.16. Dycom Industries has a 12 month low of $73.95 and a 12 month high of $115.38. The firm has a market capitalization of $3,493.94, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.38.

Dycom Industries (NYSE:DY) last released its earnings results on Monday, November 20th. The construction company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.09. Dycom Industries had a return on equity of 22.49% and a net margin of 4.46%. The company had revenue of $756.20 million for the quarter, compared to analysts’ expectations of $729.35 million. During the same quarter in the previous year, the business posted $1.67 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. equities research analysts forecast that Dycom Industries will post 4.09 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. ValuEngine raised Dycom Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. KeyCorp reaffirmed a “buy” rating and set a $118.00 target price on shares of Dycom Industries in a research note on Thursday, December 21st. Stephens lifted their target price on Dycom Industries from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $126.00 target price (up previously from $120.00) on shares of Dycom Industries in a research note on Monday, December 11th. Finally, Zacks Investment Research raised Dycom Industries from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Dycom Industries has an average rating of “Buy” and a consensus target price of $115.10.

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About Dycom Industries

Dycom Industries, Inc is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

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